Why Should Every Realtor Use Instagram?

Are you using Instagram to attract qualified real estate leads? Or are you merely relying on Facebook?

Things changed in the last years and social media platforms as well. Instagram is one of the platforms that has grown dramatically in the last decade. In the beginning of 2012 it started with “just” 15 million users. After 8 years the user base grew to over 1 billion in 2020. Not just these numbers is a reason to consider using Instagram in your business.

37% of American adults use Instagram

Direct communication

Instagram is based on connecting people. It is therefore, very easy to communicate directly with your followers or even potential customers, whether publicly in comments or in private messages. In addition, the Instagram application is very well optimised, so it is comfortable and easy for the person on the other side of your communication.

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It's visual

Instagram is based on visual content. People like it and spend a lot of their time looking at a variety of photos, pictures and videos. Embrace it when you have something to show. Photos of houses are very popular on Instagram and this is a huge opportunity for you! Show the properties you are currently offering.

You don't have to compete with Zillow

When you offer your services on Zillow, Realtor, or Trulia, you compete with almost all real estate agents. On the other hand, according to FitSmallBusiness.com, only 14% of agents are on Instagram. It gives you a big advantage. Up to 83% of buyers want to see pictures of properties online.

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Precise Ads targeting

Instagram is a part of Facebook. It brings great advantages. Via Facebook Business Manager, you can publish ads on Instagram with very precise targeting. This allows you to reach potential customers using a number of parameters, such as where they live or even whether they are considering buying property. If you are not sure about the Business Manager, try our groost app, that simplifies the whole process to just 7 steps.

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Reach right audience with hashtags

Essentially, hashtags are an SEO on Instagram. It is a tag in the description of your post and it allows users who are not following you, to find your content and, hopefully, follow you. Basically, you have two types of hashtags, global and local. Local hashtags are best if you are running a business account or have a physical location and want to promote locally.

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Publishing content is easy and quick

From the very beginning, Instagram was designed to publish visual content. With the official mobile app, it's very easy and fast. You have a variety of tools to edit your photos and videos on the go.

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Live streaming

Live streams are becoming more and more popular. It turns out, according to this study, that up to 82% percent of people prefer live videos compared to social media posts. And 80% of users would rather watch live videos from a brand than read a blog. Because it is honest and authentic. Take this opportunity to present the property you are currently selling.

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Insights into a business profile

On Instagram, you have basically 2 types of profiles. Personal and Business. The business one offers you more features that are essential for your business. One of the features is called Insights. You can see several charts and numbers here and use this to analyse your audience to find out what is and isn't working.

It’s free

What to say at the end? Instagram is apparently a platform that you shouldn't ignore in 2020. It has many benefits for your business and its influence will grow.

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5 Tips for Good Community Management

A strong community becomes a place where customers interact not only with the brand, but also with each other. This is a great source of positive and authentic reviews and it is also an opportunity to build a relationship with your audience. The best brands have killer community management strategies and this article explains the top 5 tips to help you better manage your community across all channels.

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Plan, plan, please, plan

People plan their meetings, their gym sessions, their tasks in general, why not just plan the content, then? Planning weeks or even months in advance gives you the ability to readjust your posts if needed. Set up your content calendar and approval flows. If you are doing the content alone, make sure there are no errors. Stay consistent and relevant. Planning your content ahead will help you to see the overall impression. Try it! It’s satisfying.

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Scheduled Posts on Facebook

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2. Represent your brand identity

Are you a real estate agent, owner of a flower shop or a barber? Representing your brand or business does not mean you should be boring. Be entertaining, so your audience feels good as part of your e-company. Give them valuable information, call them to action so they engage with you. Be consistent and you will become memorable. If it is not in your brand identity to behave cheeky, as for example, Netflix does, find another way to communicate in a friendly and engaging way. :)

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Outstanding Netflix Tweet

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3. Track important metrics

As mentioned above, the realtor, the barber and the flower shop owner have something in common — they should not be boring. But they can have different social media goals. The realtor might be looking for new leads, because they don’t want to be dependent on one channel like e. g. Zillow. The barber needs more customers and the florist needs to be in the minds of all the guys who live near the shop, so once their special lady has a birthday, they know where to buy the best flowers! It can be difficult to determine how your efforts have contributed to sales and leads directly. Instead, it’s better to determine how you define your own success, depending on your goals.

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Think about these points below:

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Traffic: Is your community on your website? Do you see growth over time? Where is the traffic coming from?

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Engagement: How many people are coming to your page versus those actually engaging? Which topics are they engaging in most often? This may determine your future questions, content and discussion starters.

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Members or customers: How many new members do you get every week and how many do you lose? Is this consistent? If there was a drop or growth, find what caused it!

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4. Use the data you collected

Analyse your posts, interactions and the feedback you get from your audience. Then OPTIMISE! You are the one who knows the data and your customers best. The value of data cannot be understated — you’ll end up with happier, more loyal customers, as well as more easily converted leads. Use the advantage!

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5. UGC!

People trust other users experience more than the companies themselves. Did you know that reviewed a product’s chances to be sold are 80% higher than one without any review? Positively reviewed, obviously. Social media is all about interaction, sometimes the best content will come from your audience.

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This is User-Generated Content, or UGC. It is amazing because it is authentic, and reflects what your customers think about your brand and… it’s free. It will show your customers’ experiences, and it drives the conversation forward in ways that you won’t be able to do by yourself. It is the gate to engage with people and get closer to them, making your brand feel more personal and approachable. UGC can be anything e.g. posts or tweets mentioning your brand or reviews.

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Two examples of UGC campaigns:

Calvin Klein asked its fans to fill in the campaign line “I_____in #MyCalvins.” Thousands of their followers took photos and posted their briefs, making the campaign go viral. In just a few months, over 500,000 photos were tagged on Instagram. Brand awareness: overloaded. Very clever :)‍

TVNZ teamed up with World Vision to increase awareness around the 40 Hour Famine challenge and show support, while raising funds for the people of South Sudan, who were affected by extreme drought. Using the hashtag #40hfnz and sharing photos (with their hands outstretched) on social media, participants voiced solidarity. A nice project, isn’t it?

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Instagram Post (Calvin Klein)

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Instagram Post (40 Hour Famine challenge)

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Remember: Everybody wants the response. And everybody wants the answers quickly or even instantly. Do care about your response rate and response time. It might seem that people take it for granted, but it really makes the user experience unique and enjoyable.

How Much Does Facebook Advertising Cost?

Well, that’s a tricky question – there are so many variables at play. Depending on your situation, the cost of your Facebook ads could be as much as $10 per click, or as little as 40 cents.

The most important factor is efficiency and performance. Your ads might be super cheap, but if they do not bring any results, it's a waste of money. Define the purpose (the goal) of the ad and what is your cost limit to label the ad as efficient. Many businesses measure success by the number of sold products, leads generated, or potential customers engaged.

There is no rule or benchmark for this, each business is different with different needs and circumstances. Someone might be satisfied with a new lead for $45 and another might not go over $10. One person might consider a $3 cost per click as successful and another would not want to pay more than $2. Calculate the revenue you can get from the lead and think about how much you want to spend per action, this way you can always check whether your ads perform well or not.

Before you spend a lot of money, try to set up your daily budget for $5 a day. (We will talk about how to set your budget later). Monitor your results. If the ad performance meets your ideas and you have money to raise the daily budget, do it. And do it again, if the ad is bringing you results.

Remember: If your ad is comical, visually appealing, engaging, or all of these combined, people will like, comment or share it more often than they would with some boring copy with a blurry image. If you really want the most from your paid ads, they have to be great to make the people share them and so the ads will be also spread organically. Deciding how much to spend is a good place to start, but always make sure each dollar goes as far as it possibly can. The key is the visual, the text, as well as targeting. Regarding your content creation, read my article about buyer personas, because you should tailor-make it for your ideal customers and you can also find more helpful info in this article about tools for creating visual content.

So, how can you get an idea of how much Facebook advertising costs before diving in?

How Digital Advertising and Ad Pricing Works

The world around us has become digital. More than half of the people living on Earth are connected to the internet. That's almost 4.5 billion people. The interesting thing is that this all happened in only 28 years. Yes, 1991 was the year, when the World Wide Web, today's internet, was publicly launched.

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Digital Around The World (Hootsuite)

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But the biggest internet usage increase came with the arrival of social media platforms. 80% of internet users (January 2019, Hootsuite) are also active social media users. The leading platform, with 32% market share is Facebook. Combined with ownership of Instagram and WhatsApp, it makes 66% market share. Globally. In any case, YouTube, with 27% market share can be considered the second largest platform.

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Popular Social Media Platforms

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Facebook's market capitalization was 632.43B USD as of January 16th, 2020. This number makes Facebook the 5th biggest company in the world by the market cap. Even bigger, is the Alphabet (Google). It took 3rd place with a 1000.7 USD market cap.

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You might ask, why are these companies so big, when their products are mostly free to use? The answer is advertising. Google and Facebook are the world's biggest advertising platforms. Companies spent around 170 billion dollars on Facebook and Google Ads in 2019 alone, and this number is still growing.

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Major Global Digital Ad Sellers (eMarketer)

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The fundamental difference between traditional and digital media is given by data that these platforms are generating. They capture every interaction of its users, so they know every user in detail. It allows targeting ads with many options, such as gender, age, location, relationship, income, home, interests, connections, generation, life events, ethnic affinity and much more.

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Online Behaviors

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You and your business can take advantage of it and use this platform to advertise your services or products to a very specific audience for a reasonable price. Usually a lower price (compared with traditional “offline” ads media) brings digital advertising closer to small businesses and freelancers.

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Unlike traditional media, advertisers only pay for interactions. There are many cost structures digital advertising platforms are using and these are based on marketing objectives and overall campaign goals.

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CPC

Cost Per Click is the most common cost model used by almost all digital advertising platforms. It charges you, as an advertiser, for every single click completed by a user. It means that your ad contains an external link that redirects users to your website. The average CPC on Facebook is 1.72USD, but it varies across industries.

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CPV

Cost Per View is a model built for video ads. You, as an advertiser, are charged every time a Facebook user sees your video. Keep in mind that Facebook considers a video as “viewed” after only 3 seconds.

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The average CPV price is relatively low, somewhere between 1c to 15c, but it varies across industries. Price per view should always be compared with other metrics, like CTR, to see if it is effective.

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CPM

Cost Per Mille is a pricing model, where you are charged per 1,000 impressions. An impression is when an ad is delivered to a user’s feed. If you are looking for an increase in brand awareness, this is how you will be charged.

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CPA

Cost Per Action (Acquisition) is similar to CPC. You are not charged per single click, but for a specific action a user completes on your website. It can be form filling, an app install, event registration or for scheduling a meeting.

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The average cost per acquisition on Facebook is 18.68 USD.

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CPL

Cost Per Like is a cost model used for gaining business page likes. It is good for building brand awareness. It is usually low cost, so this could be a cheap way to promote your business page. Keep in mind, that this is effective only when your page is active and publishing content consistently.

‍At first glance, it might look complicated and confusing. But at the end of the day, this is what you and your business needs. It is a groundbreaking feature, because you can focus on reaching your target audience and through that, you can make your campaigns more cost-effective.

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How is ad cost determined?

I mentioned several times that ad cost varies across industries and platforms. There is no fixed price per click/action, it is the subject of many conditions. Now, I will explain to you how it works, so you can create better and cheaper ads.

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Google

Google's advertising platform, Google Ads, is a keyword-based PPC platform. It shows ads in a search based on the keyword the user is searching. It means, that if a user is searching “family car”, Google will show ads related to this keyword. If you're selling family cars, your ad shows up right in front of the user’s eyes.

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Unfortunately, it's not that simple, because you are probably far from being the only one who is selling family cars and advertising it. Google needs to decide whose ad to show. This process is called Ad Ranking. It takes your maximum CPC bid and multiplies it with the quality score.

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Ad Rank = CPC bid * Quality Score

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CPC bid

A maximum price you are willing to pay per a single click. This setting is completely in your hands.

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Quality Score

Google's rating of the quality and relevance of both your keywords and PPC ads. It depends on multiple factors…

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Click Through Rate – if your ad has a lot of views, but only a few clicks, it is a sign that your ad might be irrelevant

Landing Page Quality – if you are advertising “family cars,” but your landing page is focused on a sports car, Google will decrease your Quality Score

Relevance of your ad text

Relevance of keywords

Historical Google Ads performance

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The higher the Quality Score is, the better price per click you will get.

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CPC = (Ad Rank of ad below you / Quality Score) + 0.01USD

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CPC Calculation

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Facebook

Facebook and Instagram ads, unlike Google's Search ads, aren't based on keywords, as these social media platforms work on slightly different principles.

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Factors, that influence the cost of Facebook Ads are:

Ad objective

Bidding

Audience

Ad quality

Industry

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Ad objective

An ad objective is a clear and specific aim of an ad. It determines who Facebook shows your ad to. This can have an extreme affect on its cost. There are 3 main objective types that are divided into specific actions.

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Awareness

Ads with the Awareness objective lead to increasing brand and local awareness, as well as gaining a higher reach and interest in your product or service.

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Consideration

If your goal is to get people thinking about your product, drive more traffic to your web or generate leads, you should focus on this category.

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Conversions

If your goal is to convert Facebook users to customers, then these types of objectives are for you.

Campaign Objectives

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Bidding

The next factor that influences ad price is the maximum amount of money you are willing to pay. It's called bidding. You set a maximum price manually (or automatically, where Facebook calculates the best price for you) and then it competes with other advertisers in an auction. Take note that a higher price doesn't guarantee that your ad shows up. Facebook considers ad quality and user experience.

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Audience

An audience, or target audience, is a group of people you aim your ad at. There are over 350 audience attributes to choose from, so you can be very specific.

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Ad quality

Facebook is a visual platform and is considered to be a personal space for its users, where they are looking for creative and interesting content. So your ads should be, of course, creative and interesting. They should also be visually appealing, able to evoke emotions and they should match users' interests. This is what Facebook considers when scoring your ad.

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Industry

As I mentioned at the beginning of this article, ad pricing varies across industries. Here is a table that you can use as a benchmark and with which you can compare your results.

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The Cost of a Click

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How can you lower your Facebook price?

Optimizing an ad price isn't an easy process. There are thousands and thousands of combinations and it can take years to find the right formula. You basically have 3 options to optimize your costs.

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Become an online advertising specialist

That's perfect advice, right? I know, this is probably not the best way to go for most people, because it takes a lot of time and energy to become a specialist. Being a social media specialist is a regular full time job, so if you are not ready to quit your current job, then this is probably not the way you want to go.

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Hire someone, who is already an advertising specialist

Hiring a freelance specialist or agency can be a way to effectively advertise. This option is usually more expensive, especially if you are a one-man-show and your marketing budget is tight.

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Use marketing automation tools that make it easy for you!

There are dozens of marketing automation tools on the market. These tools simplify the whole campaign creation process for people, who have no time to learn everything necessary and don't have a sufficient budget. That's why we created app. It helps small businesses run their campaigns without extra knowledge needed. Try it here, it's free!

Hype vs. Trend – What Really Matters for Your Business?

AI, Chatbots, Blockchain, self-driving cars, cloud-computing... You have probably heard of all of those, right? Do these terms represent trend or a hype? What is the actual difference between those two words? And are they important for you, as an entrepreneur who's just getting started? These are probably the questions that jump to your mind when hearing these buzzwords.

There is a HUGE difference between what stays and what doesn't. In other words, not everything will stick and change our behaviour. This is how we can define our keyword, trend: as a change in the behaviour, habits or ways in which things work. It is a constant change. Let me explain trend in a graph, as I am a visual learner and a numbers freak…

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Trend Line

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On the contrary, hype is something that simply occurs and fades away… without any lasting impact. If I spoke in graphs, hype would look like this:

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Hype Line

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When the terms are clarified, let us look at the history and point out some of the trends and hypes we, as humans on this earth, have been through…

1950 – Year when the first credit card was introduced

Presented by Diner's Club, the very first universal credit card came to use and was accepted by some establishments. Had it been just a hype, no one would be using credit cards today… Non-cash payment instruments play a huge role in our lives today – this trend changed our behaviour for good.

Now, imagine a bank not issuing a credit or debit card after opening an account – a business that did not catch the trend. This bank would for sure not survive in today's world…

2008 – The word shared economy was loudly spoken for the first time

… and changed the way we travel, transport ourselves and purchase goods. Startups like AirBnB or Uber have shown us there is a new way of ordering a taxi or renting a flat for a few nights. Have classic taxi companies had to react to this change? You bet they have!

You can probably guess where this is heading. There are a plethora of examples of trends that have changed our lives. These are real changes that – if businesses ignored them – could be very harmful...

Now – Podcasts, home voice assistants and voice orders

Here we go. 2019 and podcasts, home voice assistants, voice search, voice order and – you nailed it – everything that has something to do with voice is slowly changing the way we behave. Is this something you should keep an eye on? I believe so. Is this something that is about to change / threaten / boost your business? That truly depends on your business industry and approach.

On the contrary, hype can calmly be ignored (or shortly leveraged). Do you remember the Bitcoin bubble in late 2017?

If not, let me briefly explain. Bitcoin is a cryptocurrency that was invented in January 2009 by Satoshi Nakamoto. Its price has been slowly rising since then, and in 2017, one Bitcoin was worth around 20,000 USD. With no real value behind it! In other words, so much money was invested in this currency that the price rose rapidly. An easy economic rule: when the demand rises (while the offer is limited), the price goes up. But what is crucial, is the value behind it. There was no value at all. And in January 2018...BOOM!

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Bitcoin Chart (2018)

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Identifying hype and trend can be crucial for the survival of your business. But no one really tells you how to get started. Well… saying that there is a manual would mean there is a way to predict the future.

But there are some ways to prepare yourself. As Gartner puts it: “Three key factors will ultimately enable you to identify the potential impact of a particular technology trend on people, business, IT and the technology market:

New value. Identify clear business opportunities that this technology trend could help exploit, or challenges that it could help solve to produce better business outcomes.

Level of digital disruption. Decide whether adopting this trend would mean changing your organization’s business model or inventing a new one. Could this new trend replace existing technologies or ways of doing business? How could this trend disrupt the technology market? Although, there will probably be opportunities for new providers, new trends can disrupt the services and performance of existing providers on which your organization may rely.

Type of impact. Investigate whether the trend’s impact will be felt only within your organization, or whether it will have an external impact on your organization."

Yes, you have to know your business and industry perfectly in order to answer those questions. If you decide to simply ignore everything that goes around you, you may get kicked out of business soon… But if you learn, build on your knowledge and keep an eye on the current trends & hypes (as you may not recognize them at the beginning), your chances will rise.

Build on your knowledge. Do not pay attention to what does not affect your business, but be aware of something that does…

We at groost.com are leveraging online advertising for small businesses, which has shown to be a strong trend that is here to change many industries. In 2018, for the very first time, 50 % of the world's population was online. Never before has the percentage of people with access to the internet been so high. And guess what… The number is rising. Is this a trend or a hype? You are now able to answer the question for yourself.

6 Reasons Your Online Advertising Brings No Results

Let’s be honest — some online ads simply don’t work. At least we think that they don’t. Or better put, we judge them before knowing the real reason they don’t… Now, there are almost unlimited ways to reach your target audience on the internet: targeting people who search on Google with your search ad, capturing people’s attention with your promoted social media post, direct messaging on LinkedIn or creating a short video on Youtube. There are many channels and many types of ads that can use to target your potential customers.

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But why the heck don’t they work for you? Many businesses have rapidly grown thanks to online advertising and yours hasn’t. What is it that makes your campaign inefficient?

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First of all, be clear on the problem you are facing. What metrics say that your campaign is not working? Is it the ROI (return on investment — easily put, how many dollars are you making out of 1 dollar you invest in the ad), cost per lead (in case of lead generation campaigns) or number of people your campaign reached? When reporting on your marketing efforts, make sure to be as precise on the desired metrics as possible. “Thoughts” are the worst reporting tool.

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Secondly, who is running your ads? Is it you who has access to all the important metrics and reporting or do you outsource ad management to someone else? If so, are they fully transparent on the process of a campaign setting? Do they let you “watch the chef while cooking”?

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Let us be clear: this point is crucial. Online advertising is not a black box. It truly works and increases the ROI if done well. But if not, there is no positive ROI, just money thrown out of the window… What I am trying to say is, that there will be plenty of companies charging you for the ad management who are not truly willing to help you. As a result, your campaign ends up being inefficient.

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Let’s say you are running the ads on your own and still suffering from lack of efficiency. We won’t let you down. We’ve prepared a few points which — when done well — will increase your ad efficiency.

Find Your Customers Where They Truly Are

A few months ago, I moved to a new flat. Before that, I had been doing thorough research on what part of the city is the most child-friendly in terms of security, what are the prices and how far the flats are from the public transportation. I took many things into consideration before even getting in touch with an agent.

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Did I Google things? Of course! Was I keen on reading research on what parts of the city suit my needs? You bet I was! Did I spend some time scrolling on Pinterest for furniture inspiration? Yes, I did.

I was lucky to meet Josh, a real estate agent who has been in the business for some time. We got in touch after I visited his website and read his article about the prediction of real estate prices, plus went through some interesting content on his LinkedIn profile.

I was astonished by the speed of his reaction. Within two days, I had 5 flats to choose from. And a few days after that, I went to see them all.

What I did, nonetheless, within those two days, was thorough research – again. This time, I examined Josh's Instagram profile and checked out the other flats he had to offer. I read the reviews on his Google listings and read more educating articles on LinkedIn. I am a social media freak and I probably use all of them. But Josh was always there… Offering me exactly what I was looking for. At the exact time I needed it.

What I just described, was a perfect user experience and great customer-centric approach. Josh knew his business would grow if he invested in these channels. He also knew what content to serve on each of them. And I engaged, liked, followed – was totally sold! – Successfully ended my buying journey – call it whatever you want. Josh won. So did I.

Do I live in one of these aforementioned flats today? I surely do and I am happy with my decision.

Reach your customers wherever they spend their time. This is a golden rule Josh and other successful businesses completely abide by.

The fact that you are missing out on the chance to speak to your customer or potential customer on any channel can only be leveraged by your competitors… If you don't worship the customer-centric approach, they will.

And by customer-centric I mean going beyond on what YOU want to be doing to what a CUSTOMER wants to do – where she spends time, where she expects to get in touch with your business, where she takes out her wallet and pays for goods or services...

We are not talking solely about social media here. Customers visit your store – interact with you personally, get in touch with someone from support or sales, search for a cheaper substitute on Google or Bing and eventually visit your website. To gain trust, users tend to rely on reviews and customer feedback listed on your social media profiles. One customer – multiple channels. And you'd better be on all of them.

Your Customer Interacting with Multiple Channels

Every touchpoint matters. Everyone builds the complete image of you through your customers' eyes. And everyone determines whether a customer chooses you instead of your competitors.